International Business News

The U.S. company Spirit Airlines confirmed Wednesday an order for 75 A320 aircraft manufacturer Airbus, valued at seven billion dollars (5.3 billion) at list prices. The MoU, which was announced in mid-November at the Dubai air show, includes 45 A320neo, the enhanced single-aisle Airbus, a subsidiary of europe ; in EADS. The company has not announced the engine selected, the aircraft manufacturer said in a statement. 45 A320neo have been recorded in the order book in December 2011. The success of the A320neo, more fuel efficient, has allowed Airbus to sell almost twice as many planes as its U.S. rival Boeing in 2011, although it acknowledges that it will be difficult to keep the advantage in 2012, with the response of 737MAX, improved version of the aisle of his American rival.

France is the most fragile countries rated AAA. The elections also reduce the room for maneuver in terms of austerity. The France remains very solvent, judge Bruno Cavalier, chief economist at Oddo Securities. But a drop in spending is essential. The 7 World Trade Center, the headquarters address of the credit rating agency Moody's in New York. You have no doubt about the solvency of France?

No. On many occasions, the rumor current trading rooms said that France was about to lose its AAA. To date, all the rating agencies have reaffirmed that the French note kept a stable outlook. Before the elections, it is this perspective which may be changed more than the note itself. However, the situation of French public finances requires quick adjustments.In addition, the French specificity is that elections are before us.

What the next presidential election is she at risk?

Electoral constraint involves two risks. First, there is a risk of inertia or paralysis pre-election, which forced the choice of economic policy in half measures or even, as we have seen in the extreme case of the United States in malfunctions. In France, the measures announced on August 24 to put the deficit on track were chosen with the clear objective to give no pretext for the corporatism of the public to take to the streets to defend its "social gains". Almost all of the 12 billion euros in savings is to increase the tax burden in a country where government revenues are already over 50% of GDP.

U.S. GDP grew by 2.5% in the third quarter, annualized. This level was accelerated by the rise in household consumption and private investment. Barack Obama at the press conference on July 15, 2011 on U.S. debt

GDP figures published Thursday in the United States show a marked improvement in U.S. growth and suggest a strengthening of the recovery, indispensable prelude to a decrease of mass unemployment affecting the country. The first estimate of Commerce, the U.S. domestic product grew in the third quarter from 2.5% annualized over the second. The number of government reflects a significant improvement over the spring which saw growth rise to 1.3% after falling 0.4% recorded in the first quarter.

The period July to September is the best quarter of the U.S. economy since the summer of 2010. The ministry said the growth was driven by the acceleration of private consumption and private investment excluding housing, which combined made up 3.3 point rise in GDP. The main obstacle to the improvement of gross domestic product was slowing, very strong, the increase in business inventories, which lost 1.1 points of growth.

Peter Newland, economist at Barclays Capital, the sharp change in stocks of summer is "a sign that companies have responded quickly to the weakness of domestic demand in the first half, and it is unlikely that [the slowdown in output stored] is repeated in the fourth quarter. "

The G20 countries pledged Saturday to support and rebalance the global economy face "significant risk of deterioration" and said they expect a robust response of Europeans to contain the crisis in the euro area.

Meeting in Paris to prepare the annual summit of the Forum on 3 and 4 November in Cannes, the finance ministers and central bank governors of the G20 welcomed the decisions taken in late July to strengthen the powers and capacity of intervention of the EFSF, the emergency fund of Europeans.

But they said to wait for new work to maximize the impact of the fund, with $ 440 billion, and "avoid any risk of contagion" from the Greek crisis to other economies.

"We expect the results of the European Council of 23 October, which will present a comprehensive plan to provide an aggressive response to current challenges," we read in the final communique of the meeting.

The U.S. Secretary of State to the Treasury, Timothy Geithner, said he was "encouraged by the speed and the direction in which the Europeans are progressing."

"They clearly have more work to do on the strategy and details, but when France and Germany agree on a plan and decide to pass the act, great things are possible", has he said.

French and German partners presented their G20 outline of the plan which they work for a solution "comprehensive and lasting peace" to the crisis in the euro area, which is due October 23.

Executive Director of the International Monetary Fund (IMF), Christine Lagarde, said that the world economy had changed "negative" from the meetings of the IMF and the World Bank last month in Washington and that emerging economies had expressed concerns contagion of the crisis in advanced countries.

To deal with these "heightened tensions", the 20 largest economies in the world have expressed their agreement to conduct coordinated policies in the short and long term as part of an action plan to be presented at Cannes.

ALL WILL BE DONE FOR THE STABILITY OF BANKS

This "cover a range of measures to respond to immediate vulnerabilities and strengthen the foundations for strong, sustainable and balanced".

Advanced countries adopt policies to build confidence and support growth and implement measures clear, credible and targeted to rebalance public finances, we read in the press release.

Countries with large current account surpluses will take further measures by which their growth will rely more on domestic demand, while those with large current account deficits will implement policies to increase national savings.

Emerging countries to adjust their macroeconomic policies on their part to maintain the growth momentum to face downside risks and contain inflationary pressures.

They are also encouraged to continue "their efforts to move toward systems of greater exchange rate determined by the markets."

On this point, Timothy Geithner acknowledged that China had allowed its currency, the yuan, appreciate gradually but should do so more quickly for the benefit of the global economy.

The G20 countries could not agree on the principle of an increase in IMF resources desired by some to strengthen its response capacity in the current crisis.

The statement said only that they have pledged to "ensure that the IMF has adequate resources to fulfill its responsibilities systemic."

The Bank of France reiterated Monday its forecast of growth of 0.1% of the French economy in the third quarter, based on the results of its latest monthly business survey.

She had halved its forecast last month.

The business climate indicator in industry has remained stable in September at 97 while the service sector shrank from one point to 96.

In September, "industrial activity has remained stable, the contraction in the automotive and manufacturing equipment was offset by the increase observed in the food industry and some sectors of production of consumer goods" , says the Bank of France.

She added that the forecasts of business leaders expect a stable business. "

The utilization of production capacity improved slightly, to 79.3% against 78.8% in August. However, it remains below its historical average of 82.

In services, says the Bank of France, sales rebounded in September, "particularly in transportation, computer services and to a lesser extent temporary employment." The outlook for the coming months, however, foreshadow a slowdown in activity.

Nicolas Sarkozy was expected Sunday afternoon in Berlin for talks with Angela Merkel of crisis, with a priority to overcome their differences on how to recapitalize European banks.

In announcing the end of September it moves ahead in the German capital, the French president had indicated he would discuss with the Chancellor "ways and means to accelerate economic integration in the euro area and implement as soon as possible" the new aid plan for Greece approved July 21 by the Europeans.

The subject of a recapitalization of banks has been imposed to try to reassure markets worried about the resilience of the banking system facing the European financial and economic crisis due to its exposure to countries worse off.

The International Monetary Fund, one of the first to sound the alarm, said the overall needs of the sector between 100 and 200 billion euros.

The Irish Minister for the Economy, Michael Noonan, reported Saturday that there is a consensus on an amount "well above 100 billion."

The European Commission must present earlier this week proposals for a coordinated process of recapitalization of banks, which will be submitted to EU leaders at a summit on 17 and 18 October in Brussels.

As is always the case since the beginning of the crisis, France and Germany, the two heavyweights of the euro zone must first calibrate their positions.

Nicolas Sarkozy stressed on September 30 that there must be between the two countries "a perfect identity of views to resist speculation, to resist the excitement of the markets and to protect Europe".

But Germany and France have so far defended the differing approaches on the use of public funds to strengthen banks.

Paris would prefer to use the European Financial Stability Fund (EFSF), while Berlin insists on reserving the European emergency fund, which has $ 440 billion in shares last resort, such as support to Greece.

PUBLIC SHAREHOLDERS OF LAST RESORT

Friday receiving the Dutch Prime Minister Mark Rutte, Angela Merkel has reiterated that the EFSF should be activated "if a country can go it alone."

France, whose banks have the highest exposure to the debt of the peripheral countries of the euro area, has worked to minimize these differences by ensuring that the issue had not yet been discussed with Germany.

"Our position is no different from that of the Germans: it takes more capital for banks, banks must first find in themselves the resources, then if they find private investors outside and ultimately being considered injections of public capital, "it was said at Bercy.

The Ministry of Economy and Finance argued that it was first necessary to assess the level of capital required, by when, and it is then that will arise the question of "instruments of a possible recapitalization public ", which has not yet been addressed.

Meanwhile, France does not intend that the current debate among Europeans are limited to this single question."It will be among the topics discussed but the main thing about Greece and the euro area, since the banks is a consequence" of the crisis, stated there at Bercy Friday about the Sarkozy-Merkel talks Sunday.

The two leaders are expected to again argue for a rapid implementation of the agreement of July 21, which must still be ratified by Slovakia and Malta, and while the voices begin to rise enough to judge.

The Greek representative at the IMF has estimated Saturday that the financing needs of Athens will exceed current estimates and the difference will be made up "either by an increase in the loan of 109 billion decided July 21, or by restructuring the private debt. "

Helsinki demanded security for the vote of the new loan. The country threatened not to vote on second bailout plan. Greece in the storm

Countries in the euro area reached a compromise Monday night on the guarantees requested by Finland in Athens in exchange for new loans, about blocking for weeks the second rescue plan promised the country in crisis. "Following lengthy discussions, we reached an agreement on the terms of the collateral," or collateral requirements in exchange for new loans in Helsinki, said the leader of the finance ministers of the monetary union, Jean- Claude Juncker. The European Commissioner for Economic and Monetary Affairs, Olli Rehn, expressed his "satisfaction" that a compromise could be found at last after a meeting of ministers of the Eurogroup, Luxembourg.

Helsinki, which is facing a surge in euro-skepticism shown by the party's electoral breakthrough of the "True Finns" and a growing reluctance of his opinion to help Greece, required to be eligible collateral ("collateral" in financial jargon) in exchange for new loans promised in Athens. Greece has been promised on July 21 a second plan loan of Europe and the International Monetary Fund of 109 billion euros, plus a contribution from private creditors of the country.

The compromise provides that Finland may well benefit from the guarantees required. Helsinki threatened to block any failing device, which would have led Greece to bankruptcy. But at the request of many other countries who refused any special treatment, severe counterparts are planned for countries that would use such safeguards."Any country not ask for collateral, but there is a price to pay," warned Klaus Regling, the director of the Relief Fund for the euro area countries in difficulty, the EFSF.

Finland must first pay at one time contribution to the future permanent emergency mechanism in the euro area (SS), called to take over the EFSF mid 2013, while other countries may spread their payments over 5. In addition, it will not receive as many benefits on the operations of its partners EFSF. The Fund, financed by the guarantees provided by the countries of the euro area, up because of the money in the bond markets at a very low, due to its excellent rating, then pay for a higher rate countries in need who asks. The difference between the two is a profit to share.

Another drawback: if a country supported by its partners fails, the guarantee will be paid to Finland to maturity of bonds made by the EFSF, 20 or 30 years. "So the guarantees will be frozen for a very long time," said Mr Regling. Finally, Helsinki will not be entitled to receive over 30% of its guarantee in the end. "This is why it is unlikely that a country other than Finland so requests," summarized Mr. Regling. The compromise is the final blow to most as a political means for the Finnish government not to lose face domestically, after having made a prerequisite to his constituents.

The group LVMH said on Thursday replaced by Francis Morel Nicolas Beytout to the general direction of Les Echos.

Nicolas Beytout, former managing editor of business daily, was appointed in 2007 after the takeover of the newspaper by the world leader in luxury.

He became editorial writer "for all group titles," said LVMH in a statement.

After weeks of rumors about a possible departure of Nicolas Beytout, LVMH has finally passed the act, while the newspaper Les Echos recorded losses for the second consecutive year.

"Nicolas Beytout is punished for his bad management," they say internally to Echos, where writing is concerned about his appointment as a columnist.

"We know its proximity to Nicolas Sarkozy and the ethical charter signed by the shareholder recognizes the need for a non-partisan editorial in the newspaper," says one.

Les Echos journalists are scheduled to meet Friday morning at a general meeting to discuss the appointment.

The group, in addition to the Les Echos newspaper, magazine Enjeux-Les Echos, Investir, Connaissance des Arts and the station Radio Classique.

General Manager of Le Figaro from 2004 to 2011, Francis Morel was the architect of the development of internet newspaper, owned by the Dassault family, and the revitalization of its sales.

The Tokyo Stock Exchange finished up Wednesday modest, increasing only its rich gains yesterday, but investors have become wary about the willingness of Europeans to stem the debt crisis.

In addition, the stock market no longer had the support of procurement from the dividends that had enabled the Nikkei gaining almost 3% Tuesday.

Tuesday was for investors on the last day to buy Japanese equities and collect their dividend for the first half of the fiscal year.

Finally, the volume of business was low, suggesting that investors prefer to sit on the sidelines as the bargain hunting.

"Half or less of the shares of the Tokyo Stock Exchange were ex-dividend today, so there has been tying this, not to mention the uncertainty about the developments in Europe, it makes buyers cautious and it limits the upside potential, "said Yutaka Miura (Mizuho Securities).

The Nikkei gained 5.70 points (0.07%) to 8615.65. The Topix, broader, more compelling displays a gain of 5.52 points (0.74%) to 754.07.

Values, Japan Tobacco, the cigarette third world was a very popular time, the state has announced that it would sell its 50%. The action peaked three years to shift down and to include in closing down 2.86% to 356,500 yen.

Tokyo Electric Power (TEPCO) jumped 8.23%.The Yomiuri newspaper wrote that the government advise the operator of the Fukushima nuclear power plant to remove 14% of its regular staff, or 7,400 jobs, to participate in the repairs that followed the disaster of 11 March.

The restructuring plan Tepco be unveiled on October 3, the paper said, without citing sources.

Roselyne Bachelot argues that this reform is not canceled, despite the proximity of the presidential election. A retirement home in Paris in July 2006.

Roselyne Bachelot, Minister of Solidarity and Social Cohesion, said that reforming the financing of dependence "is not canceled, the deadline," in an interview published Friday by Liberation.

"This reform will, I repeat: it is not canceled, the deadline," the minister stressed, explaining that "the global financial crisis we face prevents us, for now, to implement a massive funding for years to come. "

Ms. Bachelot said "a new point will be made in early 2012," but by then, "policy towards the elderly does not stop. We are mobilized, the government continues to act," says does in this interview.

"Every year we create 7,500 extra places in nursing homes. And this effort will increase in 2012," she promises.

However, questioned the immediate need for one billion euros for the departments in charge of dependency, the minister replies that "we must adapt our systems" and that it is possible to provide "more information" and that "structures of respite, but also the structures of days" to families who request this.